For the last decade or two, all the public at large has wanted are custom pistols. Mil-spec guns were considered merely base guns for a customizing project. Regarding the plastic/stamped/MIM parts, that's simply a means of bringing the cost of the gun down to reasonable levels. The 1911 has never been an inexpensive pistol to produce. The fact that the all-steel "new" M1911A1 will run close to $1K is an indication.
However, I suspect there is light at the end of the tunnel. There has been a noticeable resurgence in the popularity of GI-style 1911s, enough so that genuine examples are becoming quite pricey as the demand goes up. I don't think it'll be long before new production guns that closely match GI guns in appearance and specs are re-introduced. We already have the M1991A1, Springfield Mil-Spec and Auto-Ordinance WW2 Model, but I think more accurate replicas are in order.
However, I suspect there is light at the end of the tunnel. There has been a noticeable resurgence in the popularity of GI-style 1911s, enough so that genuine examples are becoming quite pricey as the demand goes up. I don't think it'll be long before new production guns that closely match GI guns in appearance and specs are re-introduced. We already have the M1991A1, Springfield Mil-Spec and Auto-Ordinance WW2 Model, but I think more accurate replicas are in order.